Technical Analysis: Gold - Tuesday, Sep. 23
Gold sustained the global rally on China demand to hit the target of 3780 today.
As we see over the Intraday chart, a question overshadows the market whether Gold has the momentum to resume an advance towards 3820, or if the prices need a correction before resuming the advance.
Intraday supports start from 3778 and 3755-60, where as long as the market holds above one of those supports, more advance could hit the market toward 3820.
Below 3755 more of a drop will be expected with supports at 3729 and 3700, which could activate the advance wave again toward 3820.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 3778 | 3791 |
| LEVEL2 | 3755-60 | 3820 |
| LEVEL3 | 3729 | 3850 |
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